India's ICICI Prudential Life set for worst day in over 3 years on parent's stake sale plans

Icici Prudential Life Insurance

18/05/2026 06:46

** ICICI Prudential Life Insurance ICIR.NS stock drops 6.4% to 501.30 rupees, on track to log worst day since Jan 2023

** Parent Prudential PLC PRU.L must cut ICIR stake to below 10% from about 22% for regulatory approval to buy 75% of Bharti Life Insurance

** Bernstein expects "meaningful pressure" on ICIR due to supply overhang, challenging buyer search for nearly 12% stake sale

** Notes ICICI Bank ICBK.NS unlikely to step in without distribution strategy shift

** Maintains "market perform" rating with PT of 720 rupees

** Avg rating of 34 analysts on ICIR at "buy"; median PT is 693.50 rupees - LSEG-compiled data

** YTD, ICIR down 25%

(Reporting by Kashish Tandon in Bengaluru)

((Kashish.tandon@thomsonreuters.com))